Bid on Coordinates
Ready to bid on coordinates and own a piece of this digital canvas? Participating in auctions at iCoordinates.xyz is an exciting way to acquire coordinates that are up for bidding. This guide will walk you through the process of bidding on auctioned coordinates and becoming a proud owner.
How to Bid on Coordinates in an Auction
Follow these steps to bid on coordinates that are currently in an auction:
Connect to iCoordinates.xyz:
Ensure you are connected to iCoordinates.xyz using your Solana wallet extension.
Browse Coordinates on Auction:
Explore the platform to find coordinates that are currently up for auction. Navigate to the "Auctions" section to view all coordinates available for bidding.
Access Auction Tab:
Select the specific coordinates you are interested in and click on the "Auction" tab.
Place a Bid:
Input your bid amount in USDC, ensuring it is higher than the previous bid.
Confirm Bid:
After entering your bid, confirm the transaction through your Solana wallet extension.
Understanding the Auction Process:
If your bid is higher than the previous bid, the bid amount will be transferred to the protocol for safekeeping (custodial). If there is a subsequent higher bid, your funds will be refunded.
If the auction ends with your bid as the highest, you will win the auction and become the new owner of the coordinates.
Ownership Transfer & Funds:
When you win the auction, the ownership of the coordinates will transfer to you. Simultaneously, the amount you bid will be transferred from the protocol to the previous owner of the coordinates.
Important Note:
Bidding in an auction is a competitive process, and the highest bid at the end of the auction secures ownership of the coordinates.
By following these steps, you can actively participate in auctions, bid on coordinates, and potentially acquire a piece of this digital canvas. Good luck with your bids!
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